An economic panel led by the private sector is recommending that all four Atlantic provinces work together to form a single economy – while maintaining their own provincial governments.
The panel says the region has to work as one to strengthen its ability to compete globally.
NL businessowner and former finance minister Cathy Bennett is on the Atlantic Economic Panel along with Chair Don Mills, the former owner and CEO of Corporate Research Associates.
‘Bolder Ambitions: Greater Prosperity for All’ shows that while the region fell to 82 per cent of the national average in labour productivity, Newfoundland and Labrador has far surpassed the national average at 121 per cent.
(Source – Bolder Ambitions: Greater Prosperity for All)
Slowing population growth – at just one per cent – across the region is a major source of concern.
(Source – Bolder Ambitions: Greater Prosperity for All)
NL’s access to power far exceeds that of its Atlantic counterparts at 8,280 MW, nearly double that of New Brunswick – the next greatest power generator in the region.
(Source – Bolder Ambitions: Greater Prosperity for All)
Among the core recommendations is working together as a single economic unit and the development of an integrated regional electricity system to help power economic growth through affordable, reliable power.
